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Trilegal promotes two; Rolls out new bonus with hiccup, windfall

Trilegal-Anand Prasad
Trilegal-Anand Prasad
Exclusive: Trilegal Delhi lawyers Harsh Pais and Yogesh Singh were elevated to the firm’s salaried partnership, as the firm overshot its fee-earner bonus budget after having instituted a new system.

Counsel Pais and Singh, both based in Delhi and specialising in corporate work, have been promoted.

Pais joined around one year ago from AZB & Partners in Mumbai, following work with a US firm.

Singh had been with the firm for two-and-a-half years, having joined from SJ Berwin in London where he had moved from FoxMandal.

“Other than doing the mainstream corporate work, I’m also hoping to work with other teams and continue to work on some of the infrastructure kind of deals where we’ve advised clients on hydro and other infrastructure projects,” Singh told Legally India.

Trilegal co-founding partner Anand Prasad said that Bangalore had made its promotions last year, while Mumbai and Delhi may promote a few more partners later this year.

“We’ve been desperate for partners generally, both corporate and on the projects side,” said Prasad, adding: “We are really happy to make them partners: there’s a business need but also a fit and they meet the sort of high qualification that we expect from a partner.”

Trilegal now consisted of 12 salaried partners and seven equity partners, said Prasad (pictured).

Prasad added that fee-earner bonuses this year exceeded the budgeted amount by 28 per cent after the firm trialled a new bonus calculation mechanism for the first time this year.

In February an amount was tentatively set aside as a percentage of turnover but once the bonus formula that “minimises the level of discretion” was applied, explained Prasad, the actual pay-out overshot the budget considerably.

He said that the new system was made up of a new “fairly detailed” ratings system that judged a number of performance parameters in a matrix. Despite the amounts turning out higher than expected, the partners nevertheless decided to pay out the amounts according to the formula and deduct the increase from the firm’s profits.

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